58% CXOs believe corporate frauds to rise over the next two years: Survey

About 7% companies responded that they had been duped to the tune of more than Rs 100 million in a fraud in the recent period

About 58 per cent of CXOs believe that corporate frauds are about to rise over the next two years, a survey by Deloitte shows. However, at the same time, about 38 per cent companies denied experiencing any kind of fraud in recent times, India Corporate Fraud Perception Survey 2018, a report based on the survey, said. 

Partner/vendor favouratism, pilferage of inventory, diversion and theft of funds, bribery and corruption were the four major types of frauds that companies experienced. A third of the firms said they experienced fraudulent behaviour in terms of employing a partner or a vendor of choice,